Medical Underwriter

General Description:

This position is responsible for analyzing information and creating financial deliverables for current and prospective clients with standard to more complex benefit programs. Financial deliverables include financial and contractual analysis, claims utilization analysis and modeling, renewal projection and premium rate analysis and modeling. Required to perform essential functions and meet service standards and Best Practices developed by USI.

Responsibilities:

• Set priorities and manage analytical work flow to ensure efficient, timely and accurate creation of deliverables and other responsibilities.
• Responsible for the financial analytics for clients that are fully insured and self funded. Typical client size is 250 to 1,000 lives.
• Prepare analyses, based on USI templates that may occasionally be customized, in accordance with client service calendar financial meetings (e.g. post renewal, mid-year, pre-renewal, renewal). Analyses may include but are not limited to:
  • Market review analysis
  • Renewal rate and funding projections and modeling
  • Analysis of claims utilization
  • Rate and Contribution analysis
  • Benchmarking
  • Financial funding analysis; e.g. fully insured versus self funded
  • IBNR and lag analyses
  • Utilize USI standard analytical tools and templates to develop alternative strategies, plan modeling and cost reduction opportunities.
  • Perform technical analysis of group insurance contracts and financial arrangements.
  • Serve as primary contact with insurance carriers for negotiating and marketing coverage for new business quotes and renewals, including: requesting quotes, evaluating & spreadsheeting options, negotiating rates and benefit features and, preparing renewal or new plan options with executive summary.
  • Develop and maintain excellent carrier relationships.
  • Review and validate carrier renewal rating illustration to explain to producer and account manager and also negotiate with carriers.
  • Independently analyze experience utilization data for financial and plan usage conclusions. Independently identify and articulate trends and relationship of experience to renewal rating.
  • Independently write client facing Executive Summaries that provide observations, conclusions, recommendations, and next steps. With guidance, articulate USI strategic objectives.
  • Prepare carrier and client written correspondence such as carrier renewal confirmation letters and client renewal letters.
  • Occasionally conduct analysis using USI internal and 3^rd party external tools such as USI 3D, USI Clear Options Rx, and actuarial tools.
  • Participate in peer review process as a participant and a reviewer.
  • Occasionally participate in new Analyst on-boarding training.
  • Other miscellaneous duties as assigned.

Knowledge, Skills and Abilities:

• Ability to work in a fast paced environment with minimal instruction and a high degree of accuracy and attention to detail.
• Set priorities and manages work flow to ensure efficient, timely and accurate deliverables.
• Ability to manage and negotiate multiple priorities and deadlines.
• Maintain a cordial and effective relationship with clients, co-workers, carriers, vendors and other business contacts. Ability to work in a team environment.
• Keep informed regarding industry information, new product information, legislation, coverage and technology to continuously improve knowledge and performance.
• Interact with others effectively by utilizing good communication skills, cooperating purposefully and providing information and guidance, as needed, to achieve the business goals of the company.
• 3+ years of experience in Employee Benefits related field. High School Graduate. College degree preferred, but not required.
• Must hold state Life & Disability insurance license or willing to obtain one within an agreed upon timeframe.
• Strong written, oral and interpersonal communication skills.
• Strong functional knowledge of Excel specific to creating, formatting and evaluating formulas and working within templates. Must be proficient in Excel, Word and other MS Office products. Proficient in internal USI analytic systems and carrier online reporting tools.
• Strong problem solving and critical thinking skills
• Ability to carry out complex tasks with many concrete and abstract variables.